Invoice line with negative amount?

Kinetic ERP
1

Hi,

I have a question, which may come from my lack of knowledge :slight_smile: I would have liked to create an invoice with two lines:

  • line 1: invoice gross amount, ie amount including the local tax amount for withholding tax
  • line 2: the amount of withholding tax as a negative amount
  • hoping that the subtotal of the two would be line 1 + line 2, ie gross amount deducted by the withholding tax, and that would be the invoice total amount

However I tested this in Pilot, and I was not able to put a negative amount on the invoice line. Is that something impossible to do, or did I just not know how to do? Thanks for your help!

2

I’m not an expert but I think you need 2 invoices: one with the positive amount and then the credit memo for the negative amount.

3

Does not sound very convenient…?

4

Will it let you add a negative misc charge to the invoice?

5

I did not check that one: I will do that at some point

6

Welcome to accounting.

7

Any reason we are not using the built-in tax capability of Kinetic?

image

You get the reporting afterwards for free.

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8

Where is this one to be found, and how is it to be filled in?

9

I searched for “Tax” in the menu system. The best way to learn it is to use your Pilot and trace transactions. There will be some basic information in the User Guide and online help.

10

Is this Sales Tax you’re talking about? When I hear “withholding” that makes me think payroll, so not sure what the business need is here…

But technically speaking to accomplish what you’re asking, you need to make the line quantity negative instead of the amount. Epicor will let you do that. I have an integration workflow where I import misc invoices from another system and we use a negative qty line to capture sales discounts to a contra revenue GL (as opposed to subtracting the discount from the gross sales amount).

11

Thanks! I tested it, and this could work. Looks a bit odd, but might do the thing anyway :slight_smile:

12

In the EU, withholding applied to VAT too. At least it did when I was in Germany.

1 Like